Re: Interesting… - Posted by Briton (IN)
Posted by Briton (IN) on February 21, 2005 at 08:19:17:
You may also read “The Millionaire Next Door” Pretty basic book as far as investing goes, but it shows that rich people are not always who you would think. God Bless, Briton (IN)
and I might also add . . . - Posted by Steve-WA
Posted by Steve-WA on February 20, 2005 at 10:15:18:
comments to your comments:
OK, Steve. You’ve listed
(1)Raid parents savings account,
******************* BTW, this is the kind of money that people will offer you - I knew nothing of this savings - so your choice of the word “raid” I find completely offensive and out of context.
(2)Loan secured by 401K, (is that legal? It isn’t with IRAs.)
***********Uh, yes, it is legal. Ask.
(3)Credit cards, (I have one, max $1,000 on cash advances.)
***************OK, so get some more. What % do you pay on cash advances? Can you make more than that on your investment? This is a limitiation YOU are placing on yourself.
(4)Second on the house, (Wife has to sign, BIG problem.)
*****************Really? Why is that? This is the number one opportunity for GOOD debt in America. Your wife is against it? You guys need to research creative investing a little bit more. It might NOT be for you.
(5)Friends or relatives willing to take a chance on you,
(6)Hard money lenders.
Plus someone said that I could surely pull out at least $2,000 from my
own pocket.
To my mind none of these constitute “money that follows.”
******************There it is. “To my mind. . .” You have sources. Your responses seem to show that you may lack the willingness to use them, to take risks, to make mistakes. That is necessary to succeed. Ask anyone that has.
Or not.
Re: My expereince with this - Posted by rachel
Posted by rachel on March 08, 2007 at 23:00:58:
Hi Dan,
How is the mobile home business treating you? I met you a few years
ago at a CreOnline Convention with my husband. We were in Southern
MD too. I’m kicking myself now for not taking action and pursuing
“Lonnie” deals over there. Guess I got a little discouraged with a few
park managers I approached. Looking back, I was going to the wrong
parks.
Now, I’m in Austin, TX. I’m really getting into these “Lonnie” deals and
looking to do them here.
Are you still doing “Lonnie” deals? Or, have you moved on and bought
a park?
Thanks again for your encouragement and help with everything while
we were in Southern MD.
Take care,
Rachel
Re: My expereince with this - Posted by Michael(KCMO)
Posted by Michael(KCMO) on February 22, 2005 at 07:01:05:
Dan,
I remember hearing about your ordeal when we were in Gainesville. Congrats on your success!!
I’m curious to know how you ever succeeded in getting all those homes out of the mud in time? Did the 'dozer do the trick?
Michael Stilfield
Thanks for the post - Posted by Zach
Posted by Zach on February 20, 2005 at 10:35:12:
Sounds like you are doing very good. Congratulations on everything, and thank you for posting your experience. Good luck with everything that comes into your future.
Zach
Cool story Dan - Posted by Briton (IN)
Posted by Briton (IN) on February 20, 2005 at 09:24:28:
What did you do before Lonnie deals, and do you still work a job? Thanks for sharing. Briton (IN)
Re: My expereince with this - Posted by ScottM (NC)
Posted by ScottM (NC) on February 20, 2005 at 08:31:42:
WOW!
Dan, amazing!! I’ve no where near that record, but it is as I have been telling people, Just get out there (GOTC)and before you know it the deals and the money will be coming at you faster than you can handle it.
The deals are there
The money is there
All you have the do is apply those four little letters that Steve made so popular
ScottM
Re: the money will follow." - Posted by John W
Posted by John W on February 22, 2005 at 12:34:58:
The only thing to watch with this is that if you leave your job before paying back the loan you can be on the hook for the balance when you leave. Not that you shouldn’t use the loan, but just something to keep in mind first.
EXCELLENT and FASCINATING book. (nt) - Posted by Michael(KCMO)
Posted by Michael(KCMO) on February 21, 2005 at 17:38:44:
nt
Re: and I might also add . . . - Posted by Sterling
Posted by Sterling on February 20, 2005 at 14:28:41:
I apologize for my use of the word “raid.” My intended meaning was “to use for purposes other than originally intended.” However, upon checking my dictionary I find that that is not one of the definitions of the word. So I apologize.
As for my wife being against it, I have not even discussed it with her. But I have been married to her for 35 years and I think I know her. Believe me she will be against it. My only chance is to present it to her as a fait accompli. I did look that one up in the dictionary.
Re: Cool story Dan - Posted by Dan (md)
Posted by Dan (md) on February 20, 2005 at 18:44:07:
I still have a j-o-b but it’s a really good one as for as they go. I have another 2-3 years before I’ll quit and go full time with my mobile business…
Dan
Re: My expereince with this - Posted by Sterling
Posted by Sterling on February 20, 2005 at 14:48:00:
What four little words?
Yeah - - - it’s all about Greg Meade!! (nt) - Posted by Steve-WA
Posted by Steve-WA on February 21, 2005 at 21:02:16:
,
Re: and I might also add . . . - Posted by JD(WA)
Posted by JD(WA) on February 21, 2005 at 09:10:06:
My wife used to be very leary of the whole idea until I brought home my first $2500 in cash for only a few hours of work. It works, dont give yourself any excuses or let anyone else put them in your head either. Go for it!!!
Buy the Cash Flow Game Play it with your wife!!! - Posted by Barry (Or)
Posted by Barry (Or) on February 20, 2005 at 18:16:06:
That will change her.
My wife and I don’t have any debt except the house. I could count on half of one hand the number of times we have gone into debt to buy anything. This hasn’t been my doing. I just didn’t have a choice because my wife has been so strong on it.
Now, she is ready to go for it. Debt for cash flow.
Invite some friends over and play the game! It works.
please allow me . . . - Posted by Steve-WA
Posted by Steve-WA on February 20, 2005 at 15:57:50:
Get Off The Couch
GOTC!!
Re: Buy the Cash Flow Game - Posted by Elizabeth A
Posted by Elizabeth A on February 20, 2006 at 01:31:59:
You forgot, he doesn’t have aaaaanything, so how could he buy a $200 game? How mean of you guys to tease.
Well anyway, hey - “COPS!”
Re: please allow me . . . - Posted by Sterling
Posted by Sterling on February 20, 2005 at 18:09:17:
Why not “Get off the boat?” That’s where Lonnie spends his time.
Gotcha!
LOL
Uhhh . . . . - Posted by Michael(KCMO)
Posted by Michael(KCMO) on February 20, 2005 at 21:35:51:
. . . I think you missed the point.